Italy eyes first rating upgrade from Moody’s in 23 years

A US-based investor has made a €1 bid to take over a troubled steel plant in Italy, promising to save thousands of jobs if granted control. This move comes as the Italian government seeks solutions for its struggling steel industry, which has faced significant financial losses and operational challenges.

Dageville, the founder of Snowflake, has sold $181,000 worth of SNOW stock, reflecting personal financial decisions amidst the company's fluctuating stock performance. This transaction was reported by Investing.com.

The federal budget deficit has narrowed, surpassing market forecasts, indicating improved fiscal management and economic conditions. This development suggests a positive shift in the government's financial health, which could influence future policy decisions.

US labor costs growth has slowed in the third quarter, with the employment cost index rising by only 0.8%, marking the slowest quarterly increase since mid-2021. This trend reflects a cautious approach by employers amid economic uncertainties, as they manage labor expenses while navigating the current market conditions.

Italy is set to reduce energy bills by approximately €1.6 billion ($1.9 billion) through measures aimed at curbing wholesale natural gas prices, despite ongoing concerns regarding the legality and effectiveness of such actions.

Italy's industrial output fell by 1.0% in October, a decline that exceeded analysts' expectations, indicating ongoing struggles within the manufacturing sector. This downturn raises concerns about the overall health of the Italian economy as it grapples with various challenges.

South African retail sales increased by 2.9% year on year in October, reflecting a positive trend in consumer spending and economic activity within the country. This growth indicates resilience in the retail sector despite ongoing economic challenges.

Italian industrial output fell by 1.0% in October, a decline that was worse than analysts' expectations, indicating potential challenges within the manufacturing sector. This downturn raises concerns about the overall economic health of Italy as industrial output is a key indicator of economic performance.